The following described securities are legal investments: I. Banker Acceptances. Acceptances of member banks of the Federal Reserve System of the times and maturities made eligible for rediscount and purchased by Federal Reserve Banks. II. Temporary Investments of Excess Funds. Advances of federal funds to banks qualifying as cash depositories under RSA 387:22, which such banks agree to repay one or more business days later, provided that total advances of federal funds under this paragraph and RSA 387:2 shall not exceed 10 percent of the savings bank's deposits and that the total of such advances by a savings bank to any one bank shall not exceed 5 percent of the latter's capital funds. The agreement to repay may have a specific maturity date or may be open-ended. An open-ended agreement has no specific maturity date but requires repayment on any date that is specified by either the savings bank or borrowing bank. Notwithstanding the foregoing, advances of federal funds that comply with the requirements of Federal Reserve Board Regulation F, 12 CFR 206, as amended from time to time, shall be deemed to fulfill the requirements of this paragraph and qualify as legal investments for savings banks. III. International Bank for Reconstruction and Development (World Bank). The obligations issued or guaranteed by the International Bank for Reconstruction and Development provided that such obligations are payable in dollars in the United States, and that the principal office of the obligor is, at the time of making such investment, located within the United States. IV. African Development Bank. The obligations issued or guaranteed by the African Development Bank, provided all such bonds or notes are rated among the 3 highest ratings by one or more rating services, as defined in RSA 387:1, XVI, and are repayable as to principal and interest in United States currency within this country.
Source. RL 310:13, pars. X and XI. 1947, 19:1. 1953, 195:1, par. 16. RSA 387:16. 1955, 214:10. 1967, 234:15. 1971, 554:1. 1973, 441:3. 1975, 87:10; 194:5. 1979, 300:16. 1983, 369:6. 1990, 21:1. 1997, 194:5, eff. June 18, 1997.
The following described securities are legal investments: I. Banker Acceptances. Acceptances of member banks of the Federal Reserve System of the times and maturities made eligible for rediscount and purchased by Federal Reserve Banks. II. Temporary Investments of Excess Funds. Advances of federal funds to banks qualifying as cash depositories under RSA 387:22, which such banks agree to repay one or more business days later, provided that total advances of federal funds under this paragraph and RSA 387:2 shall not exceed 10 percent of the savings bank's deposits and that the total of such advances by a savings bank to any one bank shall not exceed 5 percent of the latter's capital funds. The agreement to repay may have a specific maturity date or may be open-ended. An open-ended agreement has no specific maturity date but requires repayment on any date that is specified by either the savings bank or borrowing bank. Notwithstanding the foregoing, advances of federal funds that comply with the requirements of Federal Reserve Board Regulation F, 12 CFR 206, as amended from time to time, shall be deemed to fulfill the requirements of this paragraph and qualify as legal investments for savings banks. III. International Bank for Reconstruction and Development (World Bank). The obligations issued or guaranteed by the International Bank for Reconstruction and Development provided that such obligations are payable in dollars in the United States, and that the principal office of the obligor is, at the time of making such investment, located within the United States. IV. African Development Bank. The obligations issued or guaranteed by the African Development Bank, provided all such bonds or notes are rated among the 3 highest ratings by one or more rating services, as defined in RSA 387:1, XVI, and are repayable as to principal and interest in United States currency within this country.
Source. RL 310:13, pars. X and XI. 1947, 19:1. 1953, 195:1, par. 16. RSA 387:16. 1955, 214:10. 1967, 234:15. 1971, 554:1. 1973, 441:3. 1975, 87:10; 194:5. 1979, 300:16. 1983, 369:6. 1990, 21:1. 1997, 194:5, eff. June 18, 1997.
The following described securities are legal investments: I. Banker Acceptances. Acceptances of member banks of the Federal Reserve System of the times and maturities made eligible for rediscount and purchased by Federal Reserve Banks. II. Temporary Investments of Excess Funds. Advances of federal funds to banks qualifying as cash depositories under RSA 387:22, which such banks agree to repay one or more business days later, provided that total advances of federal funds under this paragraph and RSA 387:2 shall not exceed 10 percent of the savings bank's deposits and that the total of such advances by a savings bank to any one bank shall not exceed 5 percent of the latter's capital funds. The agreement to repay may have a specific maturity date or may be open-ended. An open-ended agreement has no specific maturity date but requires repayment on any date that is specified by either the savings bank or borrowing bank. Notwithstanding the foregoing, advances of federal funds that comply with the requirements of Federal Reserve Board Regulation F, 12 CFR 206, as amended from time to time, shall be deemed to fulfill the requirements of this paragraph and qualify as legal investments for savings banks. III. International Bank for Reconstruction and Development (World Bank). The obligations issued or guaranteed by the International Bank for Reconstruction and Development provided that such obligations are payable in dollars in the United States, and that the principal office of the obligor is, at the time of making such investment, located within the United States. IV. African Development Bank. The obligations issued or guaranteed by the African Development Bank, provided all such bonds or notes are rated among the 3 highest ratings by one or more rating services, as defined in RSA 387:1, XVI, and are repayable as to principal and interest in United States currency within this country.
Source. RL 310:13, pars. X and XI. 1947, 19:1. 1953, 195:1, par. 16. RSA 387:16. 1955, 214:10. 1967, 234:15. 1971, 554:1. 1973, 441:3. 1975, 87:10; 194:5. 1979, 300:16. 1983, 369:6. 1990, 21:1. 1997, 194:5, eff. June 18, 1997.
